Insurance partner Sandra Jones authored an article for The Legal Intelligencer that highlights the booming pet insurance industry. Jones shares that, on May 17, The North American Pet Health Insurance Association (NAPHIA) issued its 2022 state of the industry report, which reported that North America’s pet insurance sector exceeded $2.83 billion at year-end 2021, meaning the industry has more than doubled since 2018.
The article highlights key numbers from the NAPHIA’s report and shares what pet insurance claims look like. Jones also provides insight on what the significant growth in the pet insurance space means from a legal and regulatory standpoint, noting that a rise in claims and a rise in litigation could go hand-in-hand.
The full article is available for The Legal Intelligencer subscribers.